Marketing Insight Personalization

Marketing Insight: Personalization

Embrace Personalization as a Financial Institution

The personalized nature of community banks and credit unions has suffered but is becoming increasingly important! In fact, 72% of consumers rated personalization as “highly important” in terms of their financial services. Leave the transactional ways of communicating with customers and members in the past by embracing personalization with these strategies!

Why is Personalization Important?

In this day and age, customers are looking for valuable insights and advice from their financial institutions to feel confident in their financial decisions. It can be challenging to provide the right direction without knowing a customer’s goals or priorities, and many organizations don’t have the capacity to offer this. However, pulling in the resources needed to create a personalized experience can improve revenue. Other benefits of personalized banking may include increased engagement and conversion rates, improved customer loyalty and retention, and a more substantial marketing ROI.

When someone walks into a branch, they don’t just want to hear about your latest products or special offers; they want to know how these products and specials will meet their needs. There is a high value on personalization trends throughout each generation, with millennials being the highest at 79%, followed by 75% of Gen Z, 74% of Gen X, and 58% of baby boomers. Engage every generation with these strategies for embracing personalization and leave the transactional ways of communicating in the past.

Drive Product Discovery with Recommendations

Don’t leave the personalized journey incomplete without product recommendations to drive upsells and cross-sales. This means addressing customers who could benefit from complementary financial products or providing new users with extra motivation to decide. The best way to do this is to add complementary products to specific pages on your website that will either upsell or further a buyer’s decision. The same concept can also be added to email marketing efforts but should be less prominent to ensure the main promotion is front and center.

Tailor Product Experiences During Acquisition

Continuity is critical to maximizing acquisition efforts and creating stronger customer relationships. Tailor the landing page welcome for a freshly acquired user by acknowledging how they arrived on site and the value proposition of an advertisement that attracted them there in the first place. This will ensure that their first interaction with your organization won’t leave them confused and searching for what they came for someplace else.

Put Time-Relevant Information Front and Center

Putting time-relevant information for current events front and center can establish you as a reliable resource for your customers and members. In terms of recent events, providing direct assistance via a phone number to call or other relevant information during a hardship in the community can establish trust among customers. Another form of time-relevant information pertains to resources relevant to your current offers, which will help those unsure if they are willing to jump on your offer. Sharing tips relating directly to your existing campaign is best conveyed on social media or blog posts.

Is your financial institution ready to fully embrace personalization? Strategis is a full-service marketing agency developing strategies proven to increase the (ROI) through a wide range of personalized methods. Contact us today

Post

Forward

NEW WEBSITE UPDATES!

We recently updated our website with a whole new experience designed and built by the Strategis team! Check out the best of what we do and who we are in just one click.

Visit us at strategis.is

Check Out These Other Marketing Insights!

Unlocking the Power of Tik Tok with "Fin Tok"

It's time to unlock your financial institution's potential on "Fin Tok"! "Fin Tok" is the growing library of Tik Tok content created by users on financial topics, and has generated over 4.4 billion views on hashtags such as #personalfinance, over 800 million views on #mortgages, and many more.

The rise of audio streaming has caused a digital transformation regarding how consumers listen to music or spoken-word audio. Still, radio stations have spent a century as a viable advertising

NEW WEBSITE UPDATES!

Unlocking the Power of Tik Tok with "Fin Tok"

It's time to unlock your financial institution's potential on "Fin Tok"! "Fin Tok" is the growing library of Tik Tok content created by users on financial topics, and has generated over 4.4 billion views on hashtags such as #personalfinance, over 800 million views on #mortgages, and many more.

The rise of audio streaming has caused a digital transformation regarding how consumers listen to music or spoken-word audio. Still, radio stations have spent a century as a viable advertising

option, but the time has come to consider digital audio advertising as well!